Middle East Star
MiddleEastStar.com Sunday 5th February 2012 Issue 36/10
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Treatment of London bank executives under fireTreatment of London bank executives under fire
The continuing row over bonuses is damaging Britain's reputation as a place to do business, leading international bankers have warned.

Ministers have been accused of trying to gain public favour...


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Plug pulled on Iranian oil exportsPlug pulled on Iranian oil exports
Iran will stop its oil exports to Europe, Oil Minister Rostam Qasemi said Saturday.

The development comes after the European Union endorsed the measures adopted by the foreign ministers of the...
Sharon Osbourne faces lawsuit over jewels dealSharon Osbourne faces lawsuit over jewels deal
Sharon Osbourne has been sued by a design company which has accused the reality TV star of breaching a jewellery deal by pulling out at the last minute.

Lucas Design International executives...
Imogen Thomas dresses down for shopping
Imogen Thomas was spotted in a dressed down look for her trip to Tesco in North London on Thursday - a far cry from her glamorous appearance at a party the night before.

The 29-year-old glamour...
Upbeat jobs news brings smiles to some workers
Java Coleman was transferred to Ohio last year after Nestle decided to shutter its health care products plant in St. Louis Park, displacing more than 200 workers. It was a tough transition: Coleman...
Future of health care: Comparison shopping
Jim Welna is still haunted by the employee who turned down his offer to help pay for health insurance. The worker was 30 and seemingly healthy. He preferred to use his spare dollars to help family in...
Minnesota firms pivot in face of Thai floods
Last year's flooding in Thailand was a mammoth natural disaster. And now, because a vital segment of the electronics industry clustered in a Thai flood zone more than two decades ago, the Twin...
3M execs are cutting costs, but flying high
From early retirement packages to cutbacks in hiring, 3M Co. says it is constantly looking for ways to lower its costs. But at least one expense is being spared the scalpel: its fleet of corporate...
Another financial setback for Curtis Carlson Nelson
Curtis Carlson Nelson, grandson of a Minnesota business legend, is prepared to acknowledge that he'll spend his foreseeable future under mounds of debt that he likely will never repay. Nelson,...
Basic instinct behind many consumer choices
It's the oldest trick in advertising's toolbox. If you want to sell a car, television or power tool to a man, drop an attractive woman into the ad. Vladas Griskevicius can't say for...
Inside Track: Carlson School eyes two U alumni
A deputy dean of the London School of Economics is one of the four finalists competing to be the next dean of the Carlson School of Management at the University of Minnesota. Randall S. Peterson...
Navigating IRA rules can involve a little math
QI am about to turn 70. My spouse is younger than me. We both have IRAs that we are trying to leave alone as much as possible. I realize I need to begin withdrawing from my IRA by the end of this...
Wanted: Banking app to monitor balances
Banks use various methods to calculate average bank balances, which figure in whether consumers get charged a checking account fee, but all of those methods keep consumers in the dark. (Robert...
What analysts are saying: J.C. Penney's makeover
J.C. Penney Co.'s new CEO Ron Johnson, a former executive at Target and Apple, announced long-term plans to completely redo the company's 1,100 stores across the country. Johnson and the...
Clock ticks on Greece's bailout deadline
Greece on Saturday warned it had just one day left to clinch the bailout plan with political leaders and impatient lenders who accuse it of dragging its feet on promised...
Micron appoints Durcan CEO after Appleton's death
1 of 2. Micron Technology Inc. COO Mark Durcan listens to a question during the Reuters Technology Summit in San Francisco, California May 17,...
General Electric to invest in Kenya’s infrastructure sector
US infrastructure firm, General Electric, has signed an agreement with the government to modernise Kenya's transport, health and aviation...
Unilever boss defends scrapping of 'unjustified' final salary pension scheme
The chief of the world's second-biggest consumer goods company has defended his position on scrapping the firm's final salary pension...
City's bars and retailers gear up for the bonus season
"We still do well in February - it's bonus season," says Holly Midwinter-Porter of Boodles, an upmarket jeweller opposite the Bank of England in the heart of the City of London.Stephen...
Even the bankers are saying it: this might be the end for big bonuses
Some of this year's payouts will be as startling as ever, but as anger over rewards in the financial sector explodes across front pages, attitudes are shifting even in the...
Is it time to leave Facebook?
I could blame it on the launch of Timeline (Facebook's now mandatory reboot of users' profile pages) or the forthcoming mega-IPO. Or even claim I was taking some high-minded stance (a...
Seedcamp London: the other Dragons' Den
For technology entrepreneurs, Seedcamp is an opportunity to acquire investment for their fledgling companies. But what makes the money men want to sponsor...
Reckitt used to clean up. But those days might be over
Reckitt Benckiser when it reveals its full-year numbers. The rather anonymous business behind under-the-sink brand names like Cillit Bang, Finish, Dettol and Vanish may not be the most glamorous...
Three reasons to avoid the Facebook flotation
Whether or not the social network achieves a $100bn valuation, a glance at the flotation prospectus should convince right-thinking investors to steer...
Has The Daily got off its launch pad?
year after its (Rupert-visionary) launch, it's natural to look again at The Daily , Murdoch's non-newsprint newspaper on an iPad or Android tablet near you. How's it doing? 100,000...
Leveson inquiry needs a lesson in press regulation history
The only advantage of being 10 years older than Lord Justice Leveson is that you can remember, first hand, why some of the things that mystify him came to pass. Bits of history, in short: the bits...
Eurogroup's Juncker Warns of Possible Greek Default
The possibility of a sovereign default by Greece cannot be ruled out, Jean-Claude Juncker, head of the Eurogroup of finance ministers from the single currency zone, said in a German magazine on...
Euro zone loses patience with Greece
Greece's Finance Minister Evangelos Venizelos makes statements outside his office in Athens February 4, 2012. Greece has agreed with euro zone partners on how to recapitalise Greek banks after a...
Eurogroup's Juncker warns of possible Greece default
BERLIN (Reuters) - The possibility of a sovereign default by Greece cannot be ruled out, Jean-Claude Juncker, head of the Eurogroup of finance ministers from the single currency zone, said in a...
Manufacturing faces bleak future as Caterpillar plant closes down
The closing of a locomotive plant in London, Ont., by U.S. heavy equipment maker Caterpillar comes as the latest blow to Canada's struggling manufacturing sector.Facing new competition from...
Market Snapshot: U.S. stocks follow win streak with focus on Europe
SAN FRANCISCO (MarketWatch) -- Investors in U.S. stocks, which just wrapped up their best start of the year since 1987, are expected to shift their attention next week toward the ongoing euro-zone...
Call for 'industry standard' to protect investors from hidden charges
Hidden charges make it difficult for investors to compare funds. Now Fidelity is calling for a simple charging structure so the true cost is clear to...
GM Dealers Agree to Upgrade, but Not All Are Happy
The upgrades include new signs, more modern interiors, and lounges with free Wi-Fi. In some cases, dealers might also open cafes or salons. The company announced its plans at the National Automobile...
Major Snowstorm Barrels Down on Central Plains
A major winter storm that dumped two feet of snow on the Denver area marched eastward on Saturday, buffeting the Central Plains with heavy snowfall and wind gusts of 25 miles per...
Union, politicians blast Caterpillar's decision to close London plant
Nelson Sarty was still on the Electro-Motive picket line after the plant announced it would shut down Friday, thinking about the job his family had built plans for the future around."It's a...
European Stocks Post Biggest Weekly Rally of 2012; Xstrata Gains
Feb. 4 (Bloomberg) -- European stocks posted the biggest weekly gain this year, sending the Stoxx Europe 600 Index to its highest level in six months, as manufacturing increased globally and the U.S....
Scientists, online experts gather in SD
Thousands of experts from the widely divergent fields of science and online marketing will convene in San Diego next week, when hundreds of troubled homeowners will also be in town in search of...
Stocks that could soar after the Super Bowl
Whatever the outcome of tomorrow's Super Bowl between the Giants and Patriots, several stocks with ties to the big game could be winners in the markets on Monday.The following four companies...
A Car Insurance Policy for Less—But Only If You Call
After you hear the tale of Thomas Mitchell, a retiree living in Arizona, you may suddenly have the urge to run to the phone and call your auto insurer. And perhaps even your life insurer. And your...
Mutual Fund Workers Denied Whistleblower Cover
A U.S. law protecting whistleblowers at publicly traded companies does not cover employees of mutual funds, a federal appeals court ruled on Friday in a case involving two...
Lance Armstrong, Racing Team No Longer Being Probed, U.S. Says
Feb. 4 (Bloomberg) -- Lance Armstrong, the seven-time tour de France champion, and his professional bicycle racing team are no longer the subjects of a U.S. criminal probe, the U.S. attorney in Los...
Venizelos Says Greece on Razor’s Edge as Second Bailout at Stake
Feb. 4 (Bloomberg) -- Greece’s seven-month effort to win a second bailout from international creditors teetered in the balance as negotiations in Athens failed to clinch an...
Malema May Argue for Lighter Sentence After Appeal Loss
Feb. 4 (Bloomberg) -- Julius Malema, leader of the youth wing of South Africa’s ruling African National Congress, lost an appeal against charges of bringing the party into disrepute and sowing...
Ex-Credit Suisse CDO Chief Surprised Charges, His Lawyer Says
Feb. 3 (Bloomberg) -- Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s CDO business charged in a bonus- boosting fraud tied to a $5.35 billion trading book, was surprised by...
Wall Street Split as Money Managers Fault Bank Foreclosure Deal
Feb. 3 (Bloomberg) -- Wall Street’s biggest lobbying group is split over a proposed settlement of state and federal foreclosure probes, after a committee of money managers signaled it opposes...
Super Bowl Tickets Top $16K
Dante Cassiani and his girlfriend, Michelle Gaudet, from Massachusetts are driving 950 miles in an RV with friends to Indianapolis in the hope of getting tickets to the Super...
Law enforcement websites under attack by hackers
The Federal Bureau of Investigation (FBI) headquarters in Washington Friday, Feb. 3, 2012. Hackers claim to have intercepted and leaked a sensitive conference call between cyber crime investigators...
Giants' Manning could be a better endorser than Patriots' Brady, survey says
Davie-Brown Index shows that people find Manning more appealing, aspirational, influential and trustworthy than Brady. Brady only beat Manning in the category of awareness, but there only by two...
Mitt Romney Looks to Boost Front-Runner Status in Nevada
With a huge lead in polls, Republican front-runner Mitt Romney appears poised for an easy win in Nevada on Saturday that would put him in firm command of the party's see-sawing presidential...